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This is
the eighteenth semiannual report to the Congress summarizing
the activities and accomplishments of the Pension Benefit
Guaranty Corporation (PBGC) Office of Inspector General (OIG)
for the period October 1, 1997 through March 31, 1998. In
the audit area, we issued six (6) reports, including:
- audit
of PBGC's 1997 financial statements, which resulted in unqualified
opinions with respect to the financial statements and management's
assertion concerning the operation of financial management
controls, and a report on PBGC's compliance with laws and
regulations;
- audit
of sensitive payments made to senior Corporation officials
related to travel, honoraria and gifts, and executive pay,
with recommendations; and
- agreed-upon
procedures to evaluate PBGC's submission of certain data
to the Department of Treasury in preparation for consolidated
financial statements of the United States.
In
the investigative area, we opened nineteen (19) new
investigative cases during the reporting period, and
closed twenty-five (25) cases. Those cases closed this
period included:
- theft
of multiple pension checks resulting in a conviction, incarceration,
and restitution;
- allegations
of political influence in the selection of PBGC's leased
office space; and
- allegations
of improper hiring practices through the use of a restrictive
selective factor.
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